SmartStop Self Storage REIT, Inc. (SSST) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
10 TERRACE ROAD LADERA RANCH, CA 92694 |
| State of Incorp. | MD |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 45,079 | 39,487 | 37,254 | 72,706 | 62,280 | 10,272 | |||
| Cash and cash equivalents | 45,079 | 39,487 | 37,254 | 72,706 | 62,280 | 10,272 | |||
| Total current assets: | 45,079 | 39,487 | 37,254 | 72,706 | 62,280 | 10,272 | |||
| Noncurrent Assets | |||||||||
| Property, plant and equipment | 1,924,746 | 1,887,206 | 1,593,624 | 1,210,103 | 1,173,825 | 820,296 | |||
| Long-term investments and receivables | 34,391 | 62,371 | 12,404 | 15,624 | 6,072 | ||||
| Long-term investments | 34,391 | 62,371 | 12,404 | 15,624 | 6,072 | ||||
| Intangible assets, net (including goodwill) | 70,584 | 85,108 | 84,034 | 82,244 | 128,102 | 1,563 | |||
| Goodwill | 53,643 | 53,643 | 53,643 | 53,643 | 78,373 | ||||
| Intangible assets, net (excluding goodwill) | 16,941 | 31,465 | 30,391 | 28,601 | 49,729 | 1,563 | |||
| Deferred income tax assets | 4,450 | ✕ | |||||||
| Total noncurrent assets: | 2,034,171 | 2,034,685 | 1,690,062 | 1,307,971 | 1,307,999 | 821,859 | |||
| Other undisclosed assets | (183,610) | (126,954) | (109,024) | (98,455) | (58,845) | (35,777) | |||
| TOTAL ASSETS: | 1,895,641 | 1,947,217 | 1,618,293 | 1,282,221 | 1,311,434 | 796,354 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 6,194 | 6,206 | 7,719 | 8,380 | 6,610 | ||||
| Deferred income tax liabilities | 6,194 | 6,206 | 7,719 | 8,380 | 6,610 | ✕ | |||
| Total noncurrent liabilities: | 6,194 | 6,206 | 7,719 | 8,380 | 6,610 | ||||
| Other undisclosed liabilities | 1,125,951 | 1,106,258 | 935,506 | 776,909 | 769,193 | 418,870 | |||
| Total liabilities: | 1,132,145 | 1,112,464 | 943,225 | 785,289 | 775,802 | 418,870 | |||
| Temporary equity, carrying amount | 57,336 | 43,391 | 32,227 | ||||||
| Equity | |||||||||
| Equity, attributable to parent, including: | 404,340 | 467,359 | 342,734 | 183,236 | 273,804 | 345,335 | |||
| Additional paid in capital | 894,857 | 894,284 | 724,740 | 492,408 | 491,433 | 500,475 | |||
| Accumulated other comprehensive income (loss) | 847 | 3,655 | (280) | (3,834) | (1,955) | 1,390 | |||
| Accumulated deficit | (167,270) | (164,525) | (170,846) | (141,445) | (87,090) | (62,340) | |||
| Other undisclosed equity, attributable to parent | (324,094) | (266,055) | (210,879) | (163,893) | (128,584) | (94,190) | |||
| Equity, attributable to noncontrolling interest | 91,523 | 94,460 | 64,643 | 60,004 | 72,010 | ||||
| Other undisclosed equity | (78) | ||||||||
| Total equity: | 495,863 | 561,820 | 407,377 | 243,240 | 345,814 | 345,257 | |||
| Other undisclosed liabilities and equity | 267,633 | 272,934 | 267,691 | 196,356 | 146,426 | ||||
| TOTAL LIABILITIES AND EQUITY: | 1,895,641 | 1,947,217 | 1,618,293 | 1,282,221 | 1,311,434 | 796,354 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 232,992 | 212,643 | 168,765 | 124,024 | 109,529 | 80,412 | ||
| Cost of revenue | (133,436) | (133,734) | (129,170) | (48,756) | (91,424) | (25,229) | ||
| Cost of goods and services sold | (10,255) | |||||||
| Gross profit: | 99,556 | 78,910 | 39,594 | 75,268 | 18,105 | 55,184 | ||
| Operating expenses | (28,931) | (29,142) | (23,265) | (96,409) | (10,461) | (4,848) | ||
| Other undisclosed operating income (loss) | 16,101 | 179 | 3,945 | (34,184) | ||||
| Operating income (loss): | 70,625 | 65,869 | 16,508 | (21,140) | 11,588 | 16,151 | ||
| Nonoperating income (expense) | (4,971) | (849) | (65) | 5,987 | (625) | (701) | ||
| Gains on sales of other real estate | 179 | |||||||
| Other nonoperating income (expense) | 3,129 | (849) | (244) | 5,987 | (625) | (701) | ||
| Unusual or infrequent item, or both, net (gain) loss | (8,300) | |||||||
| Interest and debt expense | (61,805) | (43,905) | (34,263) | (32,598) | (40,211) | (18,002) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 3,849 | 21,115 | (17,821) | (47,751) | (29,248) | (2,552) | ||
| Loss from equity method investments | (1,050) | |||||||
| Other undisclosed income from continuing operations before income taxes | 5,202 | |||||||
| Income (loss) from continuing operations before income taxes: | 9,051 | 21,115 | (18,871) | (47,751) | (29,248) | (2,552) | ||
| Income tax benefit | 2,596 | 555 | 1,800 | 5,800 | ||||
| Income (loss) from continuing operations: | 11,647 | 21,669 | (17,071) | (41,951) | (29,248) | (2,552) | ||
| Loss before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | (17,071) | (41,951) | (29,248) | (2,552) | |
| Other undisclosed net income (loss) | (2,494) | (9,256) | 4,152 | (1,169) | ||||
| Net income (loss): | 11,647 | 21,669 | (19,565) | (51,207) | (25,096) | (3,721) | ||
| Net income (loss) attributable to noncontrolling interest | (1,892) | (2,848) | 2,663 | 6,902 | 2,011 | 22 | ||
| Net income (loss) attributable to parent: | 9,754 | 18,822 | (16,902) | (44,305) | (23,085) | (3,698) | ||
| Preferred stock dividends and other adjustments | (12,500) | (12,500) | (12,500) | (10,050) | (1,666) | |||
| Undistributed earnings (loss) allocated to participating securities, basic | ||||||||
| Other undisclosed net income available to common stockholders, basic | ||||||||
| Net income (loss) available to common stockholders, basic: | (2,746) | 6,322 | (29,402) | (54,354) | (24,750) | (3,698) | ||
| Other undisclosed net loss available to common stockholders, diluted | (369) | (286) | ||||||
| Net income (loss) available to common stockholders, diluted: | (3,115) | 6,036 | (29,402) | (54,354) | (24,750) | (3,698) | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 11,647 | 21,669 | (19,565) | (51,207) | (25,096) | (3,721) | ||
| Other comprehensive income (loss) | (3,179) | 4,429 | 4,006 | (2,173) | (3,431) | 21 | ||
| Comprehensive income (loss): | 8,468 | 26,099 | (15,559) | (53,380) | (28,526) | (3,700) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (1,521) | (3,342) | 2,211 | 7,197 | 2,096 | 22 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 6,947 | 22,757 | (13,347) | (46,184) | (26,430) | (3,677) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.